YOUTHVILLE ISSUE #138
Friday, July 7, 2017
08078068532
youthville@dailytrust.com
...young at heart
Coping with work and school — Esther
Esther Shielu is the owner of LUK-PHILZ CONCEPT, an event and catering business based in Abuja. The French graduate told YOUTHVILLE how she copes with running a business and schooling at the same time. By Bamas Victoria @BamasVictoria @BamasVictor
W
hat is Luk-Philz Concep Concept all about and wh what was the motivation beh behind it? Luk-Philz Concept is a company w where I am the chairp chairperson and its majo major line of services are event management; m a k e - u p , bak baking and c a t e r i n g ser services, event deco decoration and general cont contracts. The motivation behind establishing this o organization is the love for e n t re p rre n e u r s h i p and d to create a so source for employ employment.
How do you mana manage to strike a balance betwe between your busin business and your studies? I manage to strike a balan balance between business and my thr studies through selfpassio discipline, passion and the love for both. I ensure I have a schedule drawn up and I keep k strictly to time. And I alway ay try to do always several things att the ssame time.
What are the skills needed for one to toe your line of business? Well the skills set needed for one to toe my line of business are self-determination and pragmatism, because clients will test your will power and your logistics have to be perfect. As such you have to be very practical in your planning. What do you think is the place of business such as yours in Nigeria? Catering and event planning has a place in Nigeria as it always provides employment for young persons, especially as part time for those who are in school. For instance, at every event you will need the waiters, cooks, DJs and so on. As such, young persons can be in school and still acquire skills; this means that by the time they graduate they not only have qualifications but skills too. No profession or venture is without its challenges and gains. What are the gains and challenges of being a young entrepreneur? The challenges have always been funds for logistics and also to get updated decorations and equipment. The gains can’t be measured because besides the monetary gains, Luk-Philz Concept has been able to put smiles on the faces on some Nigerian youths through our trainings thereby making them self-reliant as they do not only possess the skills, but get paid for services rendered.
The secret of eternal youth is arrested development. – Alice Roosevelt Longworth
Business partnership: Critical conditions for choosing the right partners By Latifat Opoola @LatifatOpoola
Starting a business partnership can be great, at least for a while but then personality conflicts start and it can be unproductive and quickly turn into a heartbreak, anger, lawsuits and bankruptcy. Sometimes partners don’t get to know themselves well before embarking on the business, and when the business starts, the focus is on the chance to grow a company quickly and profitably. Below are a few points to consider avoiding in a bad business partnership. Trust: This is first on the list for a reason. Bottom line, do you trust this individual with your personal bank account? If the answer is “no,” think twice. As partners, every dollar you spend proportionately affects your personal check book. Friendship: If the person is a good friend, make sure that their goals, values and responsibilities are aligned to yours. Don’t assume just because you get along as friends that they are. Take a look at their personal life and how stable it is. Personal problems are difficult and can easily complicate their professional life. If there is any doubt, don’t do it. Test if you can work together: Select a person you have experience with at work, at a nonprofit or on a project. You should know if they are a team player and how they react in difficult situations. If you have no experience with a potential partner at all, do a trial run for a specified period of time before finalizing the partnership. Partner, employee or consultant: Don’t partner with someone just because you can’t afford to hire them. It is better to hire them as a consultant than to give away a part of your company or to find out later that he/she is not a good partner for you. Varied strengths: Make sure you and your partner’s strengths are in different areas. If you have two people who are good at sales and no one who is good at executing on an operational level, it will be more challenging than you think. It is much better to bring someone in who will compliment your strengths. In order to grow profitably, keep some balance. Balanced responsibilities: Both parties need to agree up front what their responsibilities are in the company and stick to them. If one person keeps trying to take over and do everything or ends up doing very little, then the partnership will start to unravel and feelings of resentment will fester. Money: Money is always one of the major problems in a business partnership. Therefore, agree in the beginning how you will use the funding you raise and how the profits will be distributed. Valuation/contracts: Decide on a formula to determine the value of the company should one partner decide to leave to avoid disagreements. Buy/sell agreements are incredibly useful for discussing all possibilities and how they will be handled before they become a reality. Why is all of this so important? Because a great business can be severely damaged by a bad partnership and never reach its full potential. Starting a business and/or a partnership is an emotional experience. When doing your due diligence, set your emotions aside and make sure everything lines up and has the potential at staying aligned.
World Bank supporting varsities to develop Ecuador-Nigeria young writers’ young talents in science, tech short story contest opens By Chidimma C. Okeke
The World Bank Education Director, Dr Jaime Saavedra Chanduvi, has stated that the organization is breaking new grounds in supporting universities to improve the quality of education and research and the development for young talents in science and technology in Nigeria. Chanduvi stated this when he paid a visit to the African University of Science and Technology (AUST), Abuja to get a brief on the work on the African Centre of Excellence (ACE) and interact with students on their experiences. He said, “We have 10 centres of excellence in Nigeria and they are also providing very high quality education on science and technology to young people in Nigeria and other African countries.” According to him, the students who are on World Bank scholarship and cut across African
countries are having a great opportunity to getting great education in technology and science fields. “At the same time, they have huge responsibilities because the future of Africa would be on their shoulders. The research they are doing now and the ones they will be doing soon in the productive sectors, is not just to build a career for themselves but they are going to be creating job opportunities in the future.” He said in that regard, it is an important investment that will be critical to continue the process of development and creation of jobs in Africa. The ACE centre leader in University of Port Harcourt, Prof Ogbonna Joel, in his presentation said, “the centre has embarked on several researches and collaborated with industries to give students opportunity to be able to solve the problem of oil and gas in the region”.
By Bamas Victoria @BamasVictoria The Embassy of Ecuador in Nigeria in collaboration with Abuja Writers Forum (AWF) has called on young writers below the age of 40 to enter for a short story contest they are sponsoring. According to the spokesperson for AWF, Edith Yassin, “Entries will be accepted from Ecuador and Nigeria. The winners will be published in a bilingual publication (English and Spanish).”
The judges for the entries are Professor Zaynab Alkali and an Ecuadorian writer. Writers are expected to send in an entry of not more than 2500 words to ecuawfstories@yahoo.com on or by the first week of August. Edith noted that “No alterations may be made to an entry once it is submitted.” She also clarified that the entries should be in English for Nigerian writers and Spanish for Ecuadorian writers.